August 11, 2025

I get asked all the time, what net worth number makes sense for trust? How rich do I have to be to have a trust? And really, that's the wrong question to ask because net worth and the amount of wealth you have is not the primary reason for needing a trust. Why you need a trust is if you value leaving your wealth in a manner that eliminates a headache for your kids and beneficiaries. So if you want to avoid probate, a trust makes sense. And if you want to protect your children from some big things like their divorce, their creditors, bankruptcies, if you want to make sure that what you leave your children stays with them and then ultimately your grandkids, then a trust makes sense. So there's a few things that I look at when I start talking about a trust is one, yes, the wealth, the amount of the wealth does make a difference in whether you need a trust or not because the more wealth and the more different types of assets you have, the different reasons add up for trust. So I do look at that. I look specifically if you have multiple real estate properties, or if you own a business, or just have a high amount of net worth in retirement accounts, then it usually makes sense to come talk with us about a trust. The other things, if you have underage kids under the age of 18, you must come see us because a trust will almost always make sense. So If you have underage kids, we need to talk. Another thing, if you have special needs children or children that are unable to manage money, then a trust usually makes sense. But really, it's not about the net worth. It's just about the end goals for your family and what you want for them.